Courtesy of John Nyaradi.
The Dow Jones Industrial Average All Time High Is Here
The Dow Jones Industrial Average all time high is here. The DJIA and its SPDR DJIA ETF (NYSEARCA:DIA) have reached an all time record high, with the Dow closing at 14253.77 and the SPDR DJIA ETF (NYSEARCA:DIA) rising .90%.
The other big three Index ETFs did well today too, with the SPDR S&P 500 ETF (NYSEARCA:SPY) having gained .90%, the PowerShares NASDAQ ETF (NASDAQ:QQQ) gaining 1.48%, and the iShares Russell 2000 Index ETF (NYSEARCA:IWM) gaining 1.16%. And, interestingly enough, according to MarketWatch.com, if the ailing Apple stock (NASDAQ:AAPL) (which actually rebounded 2.64% today) had been apart of the Dow and not the NASDAQ this year, Apple (NASDAQ:AAPL) would have cost the Dow approximately 435 points. Good thing Apple (NASDAQ:AAPL) is not apart of the Dow. Apple food for thought I guess.
In a nutshell, central bank officials from Japan, China, and the Eurozone today re-affirmed the Fed’s current and new stance on continued quantitative easing. I would hazard a guess that today’s Dow bonanza was likely a result from more free money on a truly global scale. Earnings Reports and Monetary Stimulus Cause Global Rally.
Also, I would like to think that today’s ISM Non-Manufacturing Index Report for February gave investors more reasons to celebrate, as the Index rose to 56% in February from 55.2% in January. February ISM Non-Manufacturing Index Helps Make History.
Lastly, I would like to think that more Congressional bickering regarding the sequestration and the sequestrations’ expected .2% to .5% “sequestration” of the US GDP this year would push markets down. But, the “Feds” of the world spoke, and investors listened.
Bottom Line: We truly do live in interesting times.
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